Car Insurance Calculator India — Estimate Your Annual Premium
Estimate car insurance premium for third-party and comprehensive policies. Compare costs based on vehicle age type city and IDV to find the best coverage.
Car insurance is mandatory in India with third-party liability insurance required by law under the Motor Vehicles Act. Comprehensive insurance which covers both third-party liability and own damage is strongly recommended for newer vehicles. Premiums depend on your car model age city claim history and chosen add-ons. Understanding how premiums are calculated helps you avoid overpaying while ensuring adequate coverage.
How is car insurance premium calculated?
Third-party premium is fixed by IRDAI based on engine capacity. Own damage premium is a percentage of IDV (Insured Declared Value = market value minus depreciation). Your final premium = Third-party + Own damage - NCB discount + Add-on covers + GST (18%). A 3-year-old Maruti Swift with 50% NCB might pay Rs 6000-8000 comprehensive annually.
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How to Use This Calculator
Enter your values in the fields above and the calculator will compute results instantly as you type. You can adjust any input to compare different scenarios. All calculations happen in your browser — no data is sent to any server and nothing is stored. Use the share buttons below the results to save or send your calculations via WhatsApp, Twitter, or by copying the link. For related calculations, check the suggested tools in the "What to calculate next" section below.
Key Information
| Parameter | Details |
|---|---|
| Third-Party Premium (Cars) | Rs 2094 - Rs 7897 (by engine capacity) |
| Own Damage Premium | Based on IDV (market value) |
| No Claim Bonus | Up to 50% discount for claim-free years |
| Average Comprehensive Premium | Rs 8000 - Rs 25000 per year |
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Use Calculator NowFrequently Asked Questions
How is car insurance premium calculated?
Third-party premium is fixed by IRDAI based on engine capacity. Own damage premium is a percentage of IDV (Insured Declared Value = market value minus depreciation). Your final premium = Third-party + Own damage - NCB discount + Add-on covers + GST (18%). A 3-year-old Maruti Swift with 50% NCB might pay Rs 6000-8000 comprehensive annually.
What is No Claim Bonus and how does it work?
NCB is a discount on your own damage premium for each claim-free year: 20% after 1st year 25% after 2nd 35% after 3rd 45% after 4th and 50% after 5th year. Making a small claim (say Rs 5000) can cost you 50% NCB worth Rs 4000-8000. For small damages consider paying out of pocket to preserve NCB which accumulates over years.
Third-party vs comprehensive insurance which to choose?
Third-party insurance is cheapest (Rs 2000-8000/year) covering only damage you cause to others. For vehicles under 5 years old comprehensive is strongly recommended as it covers theft fire natural disasters and accident damage to your own car. For vehicles older than 8-10 years with low market value third-party only may be sufficient since own damage coverage decreases with depreciation.
Are these calculators free to use?
Yes, all calculators on CalcCorp are completely free — no registration, no login, no hidden charges. Results are calculated instantly in your browser and we do not store any of your data.
How accurate are these calculations?
Our calculators use standard financial formulas updated with the latest tax rates, interest rates, and government policies for 2026. Results are accurate for planning purposes but should be verified with a professional for final decisions.
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Last updated: March 2026